Contracts
A Virginia seller signs and delivers an offer to the buyer's agent on Friday at 5 PM. The buyer, who had submitted the offer, receives it Monday. When was the contract formed?
AWhen the seller signed
BWhen the buyer's agent received it Friday✓ Correct
CWhen the buyer received it Monday
DWhen the buyer reviewed and accepted the fully executed contract
Explanation
In Virginia, acceptance is communicated when the signed acceptance is delivered to the offeror or their agent. Delivery to the buyer's agent constitutes delivery to the buyer, so the contract formed Friday when the agent received it.
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